Sensex closes at 77,185.43, Nifty above 24,078 amid profit booking
Business
The stock market had a bit of a roller coaster on Tuesday, starting strong, then cooling off as the day went on.
By closing time, the Sensex was up 130.49 points at 77,185.43, and the Nifty finished just above 24,078.
Both indexes saw early highs but profit booking trimmed those gains.
Financials rally, IT stocks slip
Financial stocks helped steady things: public sector banks rose by 1% and ICICI Prudential Life jumped nearly 4% after solid quarterly profits.
Small- and mid-cap stocks also did well.
On the flip side, IT stocks slipped as worries about rising U.S.-Iran tensions and higher oil prices (Brent crude hit $85.7 a barrel) made investors cautious about inflation and company costs.
Overall, more stocks gained than lost by the end of trading.